Daikin Industries Ltd., the world’s largest air conditioner manufacturer, is planning to expand its presence in India. The Japanese company has signed a memorandum of understanding to acquire an additional 33 acres for a new plant near its existing facility in southern India, according to Kanwal Jeet Jawa, CEO of Daikin’s India operations. Jawa highlighted, “Approximately 93 percent of people in India still don’t own air conditioners, representing a significant future market for us.”
In the first quarter through June, Daikin sold around 700,000 units in India, marking a 40 percent increase in sales year on year in local-currency terms. The company anticipates that its sales in India will double by 2025 compared to 2021 levels.
Jawa also mentioned that Daikin plans to increase production to boost exports of air conditioners.
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